I
112th CONGRESS
1st Session
H. R. 3231
IN THE HOUSE OF REPRESENTATIVES
October 14, 2011
Mr. Meehan (for himself, Mr. Connolly of Virginia, Mr. Carney, and Mr. Stivers) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to increase the amount allowed as a deduction for start-up expenditures.
Increase in amount allowed as deduction for start-up expenditures
In general
Paragraph (3) of section 195(b) of the Internal Revenue Code of 1986 is amended to read as follows:
Special rule for taxable years beginning in 2011, 2012, 2013, or 2014
In the case of a taxable year beginning in 2011, 2013, or 2014, paragraph (1)(A)(ii) shall be applied—
by substituting
$20,000
for $5,000
, and
by substituting
$75,000
for
$50,000
.
.
Effective date
The amendments made by this section shall apply to amounts paid or incurred in taxable years beginning after December 31, 2010.